The Balochistan Assembly is expected to hear the next tax-free budget for the fiscal year 2023–24 on Monday [today], which includes a sizeable allocation of Rs 700 billion.
Balochistan budget: The Treasury Department reports that Engineer Zmarak Khan Achakzai, the finance minister, will announce the budget at 4 p.m. The budget is expected to be more than Rs 700 billion.
The expected revenue for the budget for the 2019 fiscal year is Rs 529.3 billion, however there is a chance that the budget deficit may be higher than Rs 120 billion. Additionally, the budget for development may total around Rs 200 billion.
According to reports, a proposal has been made to generate more than 5,000 positions in an effort to increase employment opportunities. Additionally, with a planned 30% raise under consideration, government personnel may see a big increase in their pay.
Balochistan’s expected revenue from its resources is currently pegged at Rs 60.32 billion.
According to estimates, the NFC Award money and other sources are expected to contribute around Rs 413 billion. This significant amount is projected to be utilized for various purposes and initiatives.
The Treasury Department is likely to propose a financial allocation of Rs 90 billion. This allocation aims to improve the quality of education in Balochistan, highlighting the recognized importance of education in the region.
Additionally, with a proposed budget of Rs 60 billion, initiatives have been proposed to prioritise peace and security. The Treasury Department has also suggested allocating Rs 50 billion to support the healthcare industry.